Dear
E-Myth
Reader,
And The Beat Goes On
The downbeat rhythm of gloomy economic reports continues. January new home sales were down for the third
straight month, and new home prices dropped to the lowest level in three years. January factory orders for
big-ticket items dropped by the largest amount in five months.
The Consumer Confidence Index released Tuesday, 26 Feb 08 is 75.0, well below the 83.0 that analysts were
expecting, and down from 87.3 in January. Job numbers are below expectations.
Businesses in poor health will feel the pinch most, while businesses strengthened with E-Myth-style systems
will have a measure of immunization against the economic flu. See how to keep your business healthy
in When The Going Gets Tough.
Bernanke's Gamble
"The economic situation has become distinctly less favorable." said US Federal Reserve chairman Ben Bernanke
on Wednesday 27 Feb 08, in his semi-annual report to the House Financial Services Committee. Bernanke didn't
mention "recession" or "stagflation" but raised the issues by discussing downside risks to growth concurrent
with upside risks to inflation.
The Fed's main tool for speeding up the economy is to lower the rate banks charge one another for overnight
loans. Lowering this rate has the ripple effect of making money cheaper to borrow across the economy, but also
increases inflationary pressure.
Tough-minded business owners will do the work necessary to strengthen operations against outside uncertainties.
We at E-Myth believe business owners are well-advised to use these slow times to rethink strategies, retool
internal systems and get trained in how to operate their businesses more efficiently. Read When The Going Gets Tough for suggestions on
weathering tough times.
On The Website
Introducing the E-Myth Experience
If you're wondering what business coaching is all about, we've got a way for you to find out.
The E-Myth
Experience is a free live discussion, hosted by an E-Myth Business Coach who introduces the E-Myth point
of view and explains how strategic thinking can improve your bottom line. Sign up now at
http://www.e-myth.com/exp.
Business Loan Funding in Days
E-Myth is announcing a new partnership with Superior Financial Group, an SBA Community Express Loan
provider. Business owners operating in the US can complete Superior's one-page, no-obligation application
online, and can be pre-qualified in a matter of seconds. SBA Community Express loans range from $5,000 to
$25,000 and if you're approved, you will be funded in a matter of days.
Click here to get started.
E-Myth in The Big Easy
On April 24 & 25, we're hosting Regional Seminars in New Orleans. We're donating 5% of the proceeds to the New
Orleans Area Habitat for Humanity. Delivering Your Brand Promise and Becoming an Entrepreneurial
Manager are delivered on back-to-back days. Special discounts are available. See the Leadership Development Series page for prices.
Poll Results
The results are in for our poll question 'Does your business have an Operations Manual that's actually in
use?'
No - 76%
Yes - 19%
Not Sure - 5%
Here's the article Develop An Operations Manual.
Our new question is 'What's your primary motivation in your business?'
Cast your vote anonymously and see the results at the E-Myth website.
Yours Truly,
The E-Myth Team
|
My E-Myth
